The coupe will be powered by a 2.0-liter inline-four paired with two electric motors drawing juice from a 34-kWh battery pack. The two electric motors will churn out 218 hp, while the 2.0-liter gasoline engine will produce 382 hp. Together, this dynamic duo will be good for an even 600 hp and 737 lb-ft of torque. The Polestar 1 will have a pure-electric range of 93 miles and some serious sprinting ability, even though Volvo hasn’t published official performance stats just yet.

Along with a number of recent Volvo models, the carbon fiber-bodied Polestar 1 will ride on Volvo’s Scalable Platform Architecture (SPA), but its wheelbase will be about a foot shorter than the other SPA-platform cars.

Volvo plans to produce up to 500 examples of the Polestar 1 per year, and will only offer them on a subscription basis.

“Polestar 1 is the first car to carry the Polestar on the bonnet,” said Thomas Ingenlath, chief executive officer of Polestar. “A beautiful GT with amazing technology packed into it — a great start for our new Polestar brand. All future cars from Polestar will feature a fully electric drivetrain, delivering on our brand vision of being the new standalone electric performance brand.”

“Polestar will also move away from today’s traditional ownership model,” Volvo said. “Cars will be ordered 100 percent online and offered on a two or three year subscription basis. The zero-deposit, all-inclusive subscription will also add features such as pickup and delivery servicing and the ability to rent alternative vehicles within the Volvo and Polestar range, all incorporated into one monthly payment.”

If a large 2+2 grand tourer hybridcoupe with a production run of 500 units annually isn’t your cup of tea, Polestar plans to debut more mass-market cars very soon: Polestar 2 will be a battery-electric, non-hybrid sedan aimed at the Tesla Model 3, set to enter production in 2019, while Polestar 3 will be an electric SUV expected in 2021. By the time the later Polestar models go on sale, they’ll already have competitors from Volkswagen, BMW, Audi and Mercedes-Benz in their particular segments.